Athens News Agency: News in English, 06-08-21
CONTENTS
[01] Subsidized interest rates for SME loans
[01] Subsidized interest rates for SME loans
The Greek government will begin a programme on subsidising borrowing
interest rates for small- and medium-sized enterprises from September
1st, Development Minister Dimitris Sioufas said on Monday.
Presenting the programme, Sioufas said the programme would run by the
end of 2008 and would include around 2,500-3,000 enterprises, while he
stressed that more funds would be earmarked under a Fourth Community
Support Framework programme.
The programme will cover enterprises with a workforce of up to 20
persons and self-employed with an annual turnover of 10 million euros.
Under the programme, the government will subsidize 50 percent of
interest rates on loans and leasing contracts on the precondition that
loans would be used for development-modernisation investments.
The Greek minister said that only 20 percent of Greek SMEs sought
borrowing from banks to cover their financial needs, a rate smaller
compared with the EU average.
The Development ministry has set up a commission to monitor bank
interest rates on corporate loans.
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